I’m looking for a Time Segmented Volume indicator for MT4. Volume in MT4 is not real volume, it just a number of tick. Balance of power indicator forex terhebat then, even that might be useful.
If so where can I get this indicator? This indicator uses volume and price, like OBV, but seems to be more reliable indicator then OBV. I’m not sure if the following indicator is what your looking for, but I hope it helps. Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors. The best indicators ever written for our modern markets are not MACD, Average Directional Index ADX, Average Range, Volume Accumulation Percent VAP, or Ichimoku Cloud but those special and remarkable indicators written by Don Worden of Worden Bros. As all of you know by now, we lost this incredibly talented indicator writer and technical analyst last year. I know it to be true.
Many assume that an indicator needs to be public domain to be good, but the exact opposite is true especially nowadays. By not putting these indicators out there to be exploited by every online broker and trading system vendor, Worden has protected these indicators so that High Frequency Trading Firms HFTs do not have access to them. HFTs front run using MACD because it is overused, exploited, and misused. They can see the transactions coming down the pipeline.